Metlife (NYSE:MET) had its target price upped by Wells Fargo & Co from $55.00 to $57.00 in a research report sent to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the financial services provider’s stock.
A number of other equities research analysts have also issued reports on the company. Citigroup lowered Barrick Gold to a neutral rating in a research note on Thursday, May 23rd. Deutsche Bank upped their target price on Prudential Financial from $97.00 to $104.00 and gave the company a hold rating in a research note on Friday, April 12th. Morgan Stanley upped their target price on Williams-Sonoma from $52.00 to $56.00 and gave the company an underweight rating in a research note on Wednesday. Barclays set a $34.00 target price on DCP Midstream and gave the company a hold rating in a research note on Wednesday, May 22nd. Finally, Sandler O’Neill lowered Metlife from a buy rating to a hold rating and set a $50.00 target price on the stock. in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $50.67.
MET stock opened at $50.92 on Thursday. Metlife has a 1 year low of $37.76 and a 1 year high of $50.94. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average of $48.82. The stock has a market cap of $48.39 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 1.08 and a beta of 1.10.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 6th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.76 annualized dividend and a yield of 3.46%. Metlife’s dividend payout ratio (DPR) is presently 32.65%.
A number of institutional investors and hedge funds have recently modified their holdings of MET. Cutler Capital Management LLC raised its holdings in Metlife by 11.5% in the 4th quarter. Cutler Capital Management LLC now owns 178,103 shares of the financial services provider’s stock valued at $7,313,000 after acquiring an additional 18,425 shares during the last quarter. Deprince Race & Zollo Inc. raised its holdings in Metlife by 0.3% in the 4th quarter. Deprince Race & Zollo Inc. now owns 506,580 shares of the financial services provider’s stock valued at $20,800,000 after acquiring an additional 1,590 shares during the last quarter. Van ECK Associates Corp raised its holdings in Metlife by 2.0% in the 4th quarter. Van ECK Associates Corp now owns 14,357 shares of the financial services provider’s stock valued at $589,000 after acquiring an additional 276 shares during the last quarter. Bessemer Group Inc. raised its holdings in Metlife by 25.4% in the 4th quarter. Bessemer Group Inc. now owns 17,666 shares of the financial services provider’s stock valued at $725,000 after acquiring an additional 3,577 shares during the last quarter. Finally, Berman Capital Advisors LLC acquired a new stake in shares of Metlife during the 4th quarter worth $31,000. Institutional investors own 75.66% of the company’s stock.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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